Connecticut entered July with the fifth-highest rate of residential mortgages under foreclosure in the nation, according to a study of more than 360,000 foreclosures nationally over the first six months of the year.
Foreclosure filings plummeted in the first half of the year, but 40% of local markets saw foreclosure starts increase, with the last housing bubble no longer to blame for the growth, according to Attom Data Solutions.
Despite a national trend of declining foreclosure volume, a recent spike in foreclosure activity has created a number of hot spots in many local markets. Here's a look at the 12 cities most affected by this development.
Last year, Brett Buras and a partner scored big on a flip. They bought a house in Belleair Bluffs for $185,000, spent another $70,000 or so on renovations and sold it for $359,000 — a net profit of $104,000.